The year’s top 5 deals include the Hero Honda sale of Honda stake when GIC and Bain, funded Hero thru an acquisition of 26% in Hero Investments Pvt Limited set up to ensure the promoters could go through with the sale without affecting their prospects forthe future without their erstwhile technical collaborator/ JV partner
They could have paid market prices for their $848 mln investment but the growth prospects of the company. Meanwhile while Patni PE and promotyers waited 10 years to sell out, iGate promoter Phaneesh Murthy was able to get a buy in from Apax Partners for $480 mln to fund his $921 mln acquisition of Patni
India’s infrastructure story continues to offer a lot of midcap players every yera, an anachronism in terms of the size of projects required and other challenges, but PE firms an din this case JP Morgan signed on to a stake in SKIL Infra for $400 mln. The IPO would have been $225 mln
SKIL gets JP Morgan stakes in a shipbuilder in Pipavav and Everonn Education
Apollo Global signed up for $350 mln in Welspun, a majority in the groups Pipe manufacturing company and the rest in Welspun maxsteel, for rolling supplies to Welspun Corp
Renewable Energy also got a headtsart in 2011 deals after the big thrust in Power and 4g in 2010 with Goldman Sachs AM buying $200 mln worth majority ownership in ReNew windpower that plans to build a 1GW Wind farm footprint by 2015
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